Home Insurance Policies: Your Options
Also: Save On Homeowners Insurance Quotes
When you are looking for homeowners insurance quotes, the company you are receiving the quotes from will generally offer you seven different policies for which you can choose from. Remember that the simplest way to find reasonable and extensive homeowners insurance quotes is to go online now using our quote comparison service and compare. The seven different types of homeowners insurance policies are:
- HO-1 – This policy is the most basic comes with most homeowners insurance quotes you receive. It includes coverage for your house and its contents from various types of damage as a result of fire, theft, and weather.
- HO-2 – A more extensive policy than HO-1, HO-2 provides coverage for damages resulting from power outages, plumbing, AC, heating, and ice/sleet. This policy is attractive to those living in areas affected by wintry conditions.
- HO-3 – This policy is focused more on the actual structure of your home and preventing it from most all damage that could be inflicted on it.
- HO-4 – Not for owners but for renters of a home or apartment, this policy offers coverage similar to that offered in 2 and 3.
- HO-5 – The most expensive and extensive of all policies, HO-5 isn’t offered by all insurance companies but includes protection against practically everything excluding wars, earthquakes and floods.
- HO-6 – For condominium owners and renters, this policy covers your personal belongings which are not covered by the building’s master policy.
- HO-8 – Geared more toward older homes, this policy covers the market value of the house instead of what it costs to replace it. This is because older homes generally cost more to rebuild.